Morning Market Outlook by Ponmudi R, CEO of Enrich Money, a SEBI registered online trading and wealth tech firm. 

Indian equity markets continue to draw support from positive progress in India–US trade discussions, which remains the key sentiment driver. Improved visibility on external trade risks has revived confidence and renewed interest in export-oriented sectors. After the strong multi-day rally, some profit-booking and range-bound action cannot be ruled out. That said, easing global uncertainties, sustained domestic capex momentum, and a stable macro backdrop keep the near- to medium-term outlook constructive. Early signs of renewed FII participation following trade-related optimism are further adding to the positive undertone. Market direction today will largely depend on whether fresh follow-through buying emerges or indices pause to consolidate at higher levels.

Nifty 50

Nifty showed signs of gap-up exhaustion in the previous session, failing to sustain near the opening highs, which points to selling pressure and limited appetite at elevated levels. RSI is placed around 54, indicating neutral momentum. For today, immediate support is seen at 25,650–25,600, coinciding with the 50-day EMA. A decisive break below this zone could weaken sentiment and drag the index towards 25,550–25,450. On the upside, a strong supply zone is placed around 25,900–26,000. Unless Nifty decisively reclaims and sustains above the psychological 26,000 mark with healthy volumes, the index is likely to remain in a consolidation phase before any further directional move.

Bank Nifty

Bank Nifty continues to display relative strength versus the broader market, though the short-term bias remains neutral. Immediate support is placed near 59,800, with a stronger base in the 59,500–59,000 zone, where the 20-day and 50-day EMAs converge. On the upside, resistance is seen around 60,200–60,300. A sustained move above 60,300 could strengthen bullish momentum and open the path towards the 61,000 mark. RSI around 56 reflects improving momentum, gradually shifting into the upper half of the neutral zone. Overall, Bank Nifty is likely to remain range-bound today, indicating consolidation after the recent sharp move, while continuing to show relatively better resilience.